I know what the company does on a very brief note, such forex trading online using various software etc. But What I wanted to know is, what the hell is a PIP! also what is there jurisdiction limitations so what services can they offer and cant etc.
Also what makes a good online forex trading account etc. I was reading the not receiving re-quotes is good etc.
A pip, depending on the currency is 1cent so when trading Cable (GBP/USD) you place a trade with a profit limit level of x number of pips – 20 pips would be 20 cents and so on.
I use Alpari for the charts on the Metatrader platform they use – which you can download for free. Their spreads are pretty good, but for tax reasons I mostly use IG Index for trading, which is a spread betting platform.
Not sure about the jurisdiction limitations you refer to – without knowing which country you are based in. If you are based in the UK there are none I know of.
What makes a good account is stability of the platform (most FX providers tend to use Metatrader so that isn’t really an issue) and speed of processing orders – you will get some slippage when the market is moving very quickly, the best way to minmise that is by using OTO orders (orders to open) that automatically trigger an order when a price reaches a certain level. Most important of course is the spread – e.g the number of pips the provider charges for entering a trade – which does vary enormously.
I’m new to forex trading and want to know if there are any reliable forex trading signal software out there?
Yes, there are a few reliable forex signal software in the market. If used correctly, they can be quite accurate. I got mine from http://www.secretforexsignals.com I found that it’s more reliable with the 4 hr charts and used together with support and resistance lines.
Forex Killer – Automatic Forex Trading Signal Software!
Which online FOREX broker is recommended for trading in the United Arab Emirates?
Hi everyone,
I live in the United Arab Emirates and would like to know, which forex broker can I use to trade online. At the moment I’m practicing on a demo account from www.fxpro.com the platform is good but I’m a little skeptical about an online broker in Cyprus.
The broker need not be in my country or have an office here. I don’t mind dealing online(i.e. sending & withdrawing money directly to my account).
I have googled and found a couple of sites but would like to know if someone has a good experience and can recommend me here.
Thanks & Regards
Ecronic
you may check your options here. it will lead you to a popular, leading forex broker that has gained the trust of middle eastern traders because it is shariah law compliant. the level of personal service is excellent. by opening an account, you will be provided a personal account service manager or asm as mentor and consultant. discussions can be done via phone, email or chat. you may also download a 50K practice account to start with. all the best.
